Leaked images of BlackBerry's (NASDAQ:BBRY) last internal handset, code-named Mercury, appeared on Chinese social network Weibo, according to The Next Web.

The handset looks similar to the Priv device, but with a set of capacitive buttons instead of on-screen keys. The keyboard also looks fixed in place and not like the sliding platform of its predecessor.

The website notes it was unable to verify the authenticity of the images, so they should be "taken with a considerable pinch of salt."

Apple (NASDAQ:AAPL) has dozens of software engineers in Canada building a car operating system and many of the staff were hired away from BlackBerry's (NASDAQ:BBRY) QNX, an automotive software provider.

A separate Apple team is developing software that will guide future self-driving cars and run on the OS, sources told Bloomberg, stating the company has developed VR simulators that test programs without taking the system onto public roads.

BlackBerry (BBRY-0.8%) officially unveiled its third Android-based smartphone -- the last in its pipeline, after its decision to outsource handset development -- after raising some question whether it would come out at all.

Last month, CEO John Chen said that he hadn't decided whether to put out the company's latest phone: "If I decide not to go ahead with that phone, you may have seen the last BlackBerry-designed phone."

It's similar to the summer's DTEK50 but with higher-powered specs, including a fingerprint sensor and 5.5" Quad HD display. It's priced at $499 at its internal store (where BlackBerry will throw in an accessory bundle) and will roll out to additional global channels and countries in coming weeks.

BlackBerry's (BBRY+0.5%) move away from hardware development toward software/services is a key strategic shift that could bring focus but also some key uncertainties, Imperial Capital says as it bumps its price target.

The firm maintained an In-Line rating and raised its price target to $8.50 from $7 -- implying just 6.4% upside, but they say the shares have balanced risk/reward and "we would seek a more attractive entry point."

“BBRY’s decision to cease internal hardware development and outsource to partners represents a key strategic shift which will transition the company into a focused software and services vendor with improved margin and cash flow profile,” analyst Michael Kim says, but he notes considerable uncertainty around licensing deals as well as end-user demand for new devices, and steady-state royalty rates.

"If I decide not to go ahead with that phone, you may have seen the last BlackBerry-designed phone," Chen said.

Meanwhile, The Wall Street Journal this evening has written an elegy to BlackBerry's devices, once essential but then left in the dust by faster-moving competitors. After a peak of 52.3M handsets sold in 2011, BlackBerry had just 3.2M device sales in the most recent fiscal year.

The company underestimated the shift on mobile devices, the WSJ says: "When [founder Mike] Lazaridis conducted an autopsy on Apple Inc.’s first iPhone in the summer of 2007 he was stunned to find so much computing power inside the sleek phone. The phone was nonsensical, he told his team. There was no way the networks could manage the videos, photos and other internet traffic Apple was promising iPhone users." But Apple's exclusive deal with AT&T gave the carrier a huge incentive to upgrade networks.

"We have made investment over a billion-plus, all in software, all in security, and now we need to execute it," he says.

But he didn't provide any update on the possible fate of the money-losing hardware unit. A midday stock halt last month led observers to believe a hardware shutdown announcement was coming -- but no only did that not happen (the company announced a debenture-based refinancing), but since then a page leak suggested the company was preparing yet another new handset, a more powerful Android-based phone.

The next phone from BlackBerry (BBRY+2.7%) looks to be much more robust than the company's second Android-based entry, released in July -- at least according to a now-deleted page on the company's website.

The DTEK60, which the site CrackBerry found on a page that had "donotpublish" in its URL, could be the rumored "Argon" phone and a follow-up to the DTEK50 it put out this summer.

But it contains higher-powered specs than that phone, with a Qualcomm Snapdragon 820 64-bit quad-core processor, a 5.5" screen with 2560 x 1440 Quad HD resolution, a 21-megapixel camera and 3,000 mAh battery, as well as a fingerprint sensor.

If released as described, the all-touch phone would leave another rumored model that brings back a physical keyboard for future days.

Analyst Rod Hall has raised his price target on BlackBerry to $8 from $7, implying a 1.1% upside from today's lowered price. He's Neutral on the stock.

The company planned to redeem its outstanding principal in the 6% debentures, about $1.245B, and a set of subscriber including Fairfax Financial are in on $605M of the newer $10/share convertibles.

That should save BlackBerry close to $50M/year in interest, says Hall, and so he's bumped estimates for fiscal 2017 EPS by $0.05, to -$0.14. For the following year, he's raised his EPS estimate by $0.09, to -$0.36. "We see this as a good transaction for BlackBerry as the one-time additional payment effectively allows for the significant reduction of annual interest expenses," Hall says.

It's amended the indenture governing 6% unsecured convertible debentures to allow a redemption before Nov. 13; it plans to redeem the outstanding principal (about $1.245B) at 106.7213% of principal.

Holders of those debentures are still entitle to convert into shares at $10/share anytime prior to Sept. 1.

Also, Fairfax Financial (OTCPK:FRFHF) and others will subscribe for 3.75% unsecured convertible debentures for $605M in aggregate. Those debentures will also be convertible at $10/share and that transaction should wrap on Sept. 2.

If the entire $605M were converted, the shares issued would make up 11.57% of outstanding common shares. They're not redeemable prior to maturity and aren't due until Nov. 13, 2020.

Shares were halted just a bit ago, raising investor chatter about what that could mean on a Friday afternoon if not abandoning an unprofitable hardware business.

Shares will resume trading at 2:30 p.m. ET.

Updated 2:47 p.m.: After resuming trading, shares are down 0.1% on the day.